Reasons To Be Optimistic About The U.S. Manufacturing Renaissance

The future of manufacturing is one of the most talked-about issues in the U.S. right now, and it clearly resonates with the American people. Overseas companies operating within the U.S., many employing thousands of American workers and contributing to the technological strength of U.S. manufacturing, can play an important role in this discussion.

One such company is Mitsubishi Heavy Industries (MHI), a Japanese company with U.S. headquarters in Houston and a significant number of group companies, partners and investments across the U.S. They locally manufacture a range of industrial products, from forklifts, turbochargers and key manufacturing equipment, to massive machinery like gas turbines and carbon capture technologies.

MHI’s President and CEO, Shunichi Miyanaga, is bullish on U.S. manufacturing and plans to expand operations in the United States. He believes that there are opportunities for the company to increase business scale in the U.S. by 20% over the next two years. The U.S. is MHI’s largest market outside Japan, with North America representing $7.5 billion of MHI’s nearly $40 billion total revenue. Miyanaga also anticipates adding more jobs over the next two years, as well as bringing back key technologies that were initially developed in the U.S. – and fine-tuned in Japan – back to the U.S.